US rate uncertainty buoys local blue chips; NZ shares edge higher

The S&P/NZX Index increased 11.56 points, or 0.1 percent, to 10,235.37. Within the index, 20 stocks rose, 22 fell, and eight were unchanged. Turnover was $174.7 million, of which Summerset accounted for $54 million.

Equity markets were mixed across Asia, as investors remained uncertain about the impact of the persistent trade dispute between the US and China, while at the same time weighing up the impact of expected interest rate cuts in the US and Australia.

"The focus is what's happening offshore, particularly in the US," said Craigs Investment Partners investment advisor Peter McIntyre.

The low interest rate environment has been a boon for local blue-chip stocks, utilities, and property firms due to the reliable dividends New Zealand firms often pay investors. Auckland International Airport rose 0.2 percent to a record $9.02. Goodman Property Trust rose 1.3 percent to $1.885 on a volume of 1.73 million units, Ryman Healthcare increased 1.2 percent to $11.65, and Genesis Energy increased 1.1 percent to $3.17.